Doing it myself - Current portfolio

Bostonerimus1

downshifted said:

You might want to look into giving to family using the "excess income" rules.

Agreed, have done that over the past year, and hope to continue to do so

Continuing is key as HMRC want to see a pattern.

downshifted

Interesting, I’ve been giving while I’ve been drawing down from my SIPP.  As noted above we can live without drawdown and would probably stop in the event of a market crash. In that case I’d prefer not to give, but would then start again when I started drawing down again. Would that be acceptable?

Notepad_Phil

downshifted said:

Interesting, I’ve been giving while I’ve been drawing down from my SIPP.  As noted above we can live without drawdown and would probably stop in the event of a market crash. In that case I’d prefer not to give, but would then start again when I started drawing down again. Would that be acceptable?

It's meant to form part of a regular pattern of giving, so giving then stopping and then restarting may prompt some hmrc curiosity if your executors claim that you have been giving gifts out of surplus income.

https://techzone.aberdeenadviser.com/public/iht-est-plan/gifts-out-of-surplus-income is possibly a good page to look at for further information.

QrizB

downshifted said:

... and would probably stop in the event of a market crash.

It really depends on what your beneficiaries are doing with your gifts.

If they're investing them, a crash might not be a problem. You sell some units, they buy the same units, that actual price per unit isn't important.